1 / 24

FBD HOLDINGS PLC

FBD HOLDINGS PLC. 2005 PRELIMINARY RESULTS. Forward Looking Statements.

markku
Download Presentation

FBD HOLDINGS PLC

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. FBD HOLDINGS PLC 2005 PRELIMINARY RESULTS

  2. Forward Looking Statements This presentation contains certain forward-looking statements. Actual results may differ materially from those projected or implied in such forward-looking statements. Such forward-looking information involves risks and uncertainties that could affect expected results

  3. Introduction to FBD Holdings plc • Core business …insurance underwriting. • leading position in target markets • strong brand identity • Non – Core • property/leisure • financial services • Excellent growth record.

  4. Operational Highlights of 2005 Underwriting • Strong new business volumes more than offset reducing premium rates. • Policy count at 31st December 2005 up 12.5% on 2004 figure. • Branch network enhanced. • Dublin Market targeted • New products introduced (Shops, Trades, Breakdown / Claims Assist 24 Hour service) • Increased investment in infrastructure and human resources

  5. Operational Highlights of 2005 Non-Underwriting • 40 Residential units sold at La Cala Resort • Third championship golf course (“The Europa”) opened for play at La Cala. • Castlerosse Hotel, Killarney sold. • Castleknock Hotel & Country Club opened.

  6. Operational Highlights of 2005 Corporate • KBC disposed of its 22% shareholding. • FBD partakes in KBC sale…(€81m buyback) • Free float increased to 58%

  7. Financial Highlights

  8. Preliminary Results: Year to 31st December 2005Income Statement

  9. 2005 2005 2004 2004 % % € € 000s 000s € € 000s 000s Underwriting Result Underwriting Result 90,450 90,450 65,939 65,939 +37.2% +37.2% Longer term investment return Longer term investment return 44,435 44,435 40,713 40,713 +9.1% +9.1% Non underwriting operating income Non underwriting operating income 27,739 27,739 18,142 18,142 +52.9% +52.9% Operating profit Operating profit 162,624 162,624 124,794 124,794 +30.3% +30.3% Operating profit by activity Operating profit by activity Insurance Underwriting Insurance Underwriting 134,885 134,885 106,652 106,652 Non Non - - Underwriting Underwriting - - Property/Leisure Property/Leisure 13,644 13,644 10,586 10,586 - - Financial Services Financial Services 3,302 3,302 3,905 3,905 - - Capital Fund Capital Fund 10,793 10,793 27,739 27,739 3,651 3,651 18,142 18,142 162,624 162,624 124,794 124,794 Preliminary Results: Year to 31st December 2005Income Statement…. Contd.

  10. Preliminary Results: Year to 31st December 2005Income Statement….. Contd.

  11. Preliminary Results: As at 31st December 2005Balance Sheet - Assets

  12. Preliminary Results: As at 31st December 2005Balance Sheet - Liabilities

  13. Preliminary Results: Year to 31st December 2005Statement of Changes in Equity

  14. Preliminary Results: Year to 31st December 2005Cash Flow Statement

  15. 5 Year Financial Performance

  16. 5 Year Financial Performance

  17. 5 Year Financial Performance

  18. Return on equity

  19. Gross Claims Run-off

  20. Market share (IIF) Gross written Premium € m 10% 8.8% 8.8% 8.2% 7.7%

  21. Post Balance Sheet Events • 23rd February 2006, • Conditional agreement to sell 96 hectares of development land at La Cala • Total consideration €201m. in cash, in phased payments. • Estimated profit after tax… €90 m. • Intention to distribute the net cash proceeds, estimated at €120m. in two special dividends.

  22. OUTLOOK Underwriting • Year to date trading on target • Price competition continues • Ambitious new-business volumes targeted • Further investment in people and infrastructure planned • Road accident trends negative, pending Government action • Increased claims incurred charge….higher exposures • No significant changes in claims reserving approach envisaged, in the short term • Combined ratio to move towards European norms

  23. OUTLOOK…Contd. Non -Underwriting • Property / Leisure • Operating environment to remain challenging • New marketing strategies being implemented • Financial Services • Falling premiums pressurising income • Increased sales activity planned

  24. OUTLOOK…Contd. Capital Retained • Increasing dividend payout • Opportunities to invest capital in core / related financial service businesses to be investigated • All options to maximise returns to shareholders under ongoing review……. • ………meanwhile , prudent investment.

More Related